Updated Feb 4, 2023 20:37

Hardboard Market in Ukraine

Market Overview
In , after four years of growth, there was decline in the Ukrainian hardboard market, when its value decreased by -% to $. In general, consumption, however, saw a strong expansion. Hardboard consumption peaked at $ in , and then dropped slightly in the following year.

In value terms, hardboard production rose to $ in estimated in export price. Overall, production continues to indicate a moderate expansion. The growth pace was the most rapid in 2016 when the production volume increased by %. Hardboard production peaked at $ in ; however, from to , production failed to regain momentum.


Consumption
In , after two years of growth, there was decline in consumption of hardboard, when its volume decreased by -% to cubic meters. Over the period under review, consumption, however, saw a prominent increase. Over the period under review, consumption attained the maximum volume at cubic meters in , and then fell slightly in the following year.

The value of the hardboard market in Ukraine declined to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market reached the maximum level at $ in , and then fell in the following year.


Market Forecast
Driven by increasing demand for hardboard in Ukraine, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to cubic meters by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, the share of imports in terms of total hardboard consumption in Ukraine was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Ukraine hardboard market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Ukraine remains a net exporter of hardboard; in physical and value terms, exports consistently exceeded imports from 2011 to . In , there was a significant trade surplus of cubic meters, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.